JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Beigene (NASDAQ:ONC) Stock

Beigene (NASDAQ:ONC - Get Free Report) had its target price lifted by analysts at JPMorgan Chase & Co. from $311.00 to $317.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 26.81% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Bank of America raised shares of Beigene from a "neutral" rating to a "buy" rating and upped their price objective for the company from $207.00 to $320.00 in a report on Monday, March 3rd. Royal Bank of Canada started coverage on shares of Beigene in a report on Monday, April 7th. They set an "outperform" rating and a $312.00 target price on the stock. Sanford C. Bernstein set a $259.00 price target on Beigene in a research report on Thursday, March 13th. Macquarie increased their price objective on Beigene from $259.00 to $313.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Finally, JMP Securities set a $348.00 target price on Beigene in a report on Friday, February 28th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Beigene has an average rating of "Buy" and an average price target of $318.88.

Beigene Stock Down 2.4 %

ONC traded down $6.18 during trading on Monday, reaching $249.98. 25,156 shares of the stock traded hands, compared to its average volume of 485,128. The company has a quick ratio of 1.72, a current ratio of 1.93 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $247.70. Beigene has a 12 month low of $141.31 and a 12 month high of $287.88. The stock has a market capitalization of $24.72 billion, a PE ratio of -30.34, a PEG ratio of 7.73 and a beta of 0.49.

Beigene (NASDAQ:ONC - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.55). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Beigene had a negative return on equity of 25.12% and a negative net margin of 25.94%. As a group, equities research analysts anticipate that Beigene will post -5.82 EPS for the current year.

Insider Buying and Selling at Beigene

In related news, insider Xiaodong Wang sold 8,146 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $254.58, for a total value of $2,073,808.68. Following the sale, the insider now directly owns 5,240,882 shares of the company's stock, valued at $1,334,223,739.56. This trade represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Chan Henry Lee sold 1,202 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $258.04, for a total transaction of $310,164.08. The disclosure for this sale can be found here. Insiders have sold a total of 1,146,048 shares of company stock valued at $295,198,300 in the last 90 days. Corporate insiders own 7.43% of the company's stock.

About Beigene

BeiGene Ltd. Is a global oncology company, which engages in providing pharmaceutical products. Its medicines include BRUKINSA, TEVIMBRA, and PARTRUVIX. The company was founded by Xiao Dong Wang and John V. Oyler on October 28, 2010 and is headquartered in George Town, KY.